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The Relationship between Indian Realty Stocks and Online Searches

Author

Listed:
  • Prashant Das
  • Alan Ziobrowski

Abstract

We examine the relationship between online real estate searches by investors and the future returns of publicly traded real estate stocks in India. We find evidence that the relevant online search volume indices are significantly related to the future movements in real estate stock returns. However, the association between online searches and stock returns diminishes quickly. The findings suggest that the significance of the online searches is driven by the online investor’s attention to real estate stocks rather than the searches’ representativeness of the fundamental shifts in the market. JEL Classification: R3, G11, G12, G14

Suggested Citation

  • Prashant Das & Alan Ziobrowski, 2015. "The Relationship between Indian Realty Stocks and Online Searches," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 14(1), pages 1-19, April.
    • Handle: RePEc:sae:emffin:v:14:y:2015:i:1:p:1-19
    DOI: 10.1177/0972652714567994
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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